tv Cashin In FOX News April 3, 2010 11:30am-12:00pm EDT
fox." happy easter, everybody. keep it right here. cashin' in. >> today, d.c.'s new plan to boost jobs in america. work less? >> i would say in a given week i probably only do about 15 minutes of real actual work. >> the president pushing flexible schedules while millions are looking for any schedule for a job. is this the right message for a nation that needs to reconnect with the work ethic that made america great? and getting high on high fat? a new study claiming fadd fatty foods are as addictive as crack cocaine. is this just a move to whack america with a meaty junk food tax to pay for healthcare reform? the cashin' in crew is on the case. plus, is this what 200 billion of your tax dollars buys nowadays? home prices still tumbling
despite massive government spending. is it time to evict uncle sam and let the free market do the rebuilding? all that and ipad or ay-ay and ay pad. was the competition ereading before steve jobs could deliver the first i-pad. your money, you life, your show to stay ahead of the game. cashin' in starts right now. the unemployment rate holding steady at 9.7% as american workers work harder than ever. but now the president is pushing for flexible work schedules for employees. he says it will help boost the job market by making workers more productive. is he right or wrong? hello. welcome to cashin' in. the crew this week, wayne rogers, jonathan hoenig, jonas bare rice along with tracy
burns and john layfield. also christian dorsey, the director of the economic policy institute. welcome to all of you. great to be back together, folks. john, getting workers flexible schedules, is this you think good or bad for jobs and then for the economy? >> this does absolutely zero for jobs. this is something that was created by a bunch of naive idea alslogs who never had to a business. the flexible work schedule has been in existences since the first caveman hired the next caveman. it has always been there. what we need right now is simply a work schedule. the jobs number was decent. you don't want to mess with the most productive work force in the world when all they want is to go to work period. you have one out of six americans work for state or federal governments. one out of five males age 20 to 54 that are unemployed. we don't need to wear flowers and sing beatle songs.
we need jobs and this is another waste of government money. >> he is making a point about the productivity that we have in this country. we are one of the most productive economies in the world. why mess with that right now? >> because we want to be even more productive. and, you know, we have a work force built on an adefrom the 1940s where you have a man going to work and a woman managing the home. now, women make up half of the work force. many families where to earner families and you also have single parents. they have real home responsibilities that get neglected and when they can't take care of home they are really not fully present when they are at work. if you promote flexible schedules you make employees happy, you make them more productive and that is better for the bottom line of american businesses. this is a great thing for america. >> this could be, though, a double edged sword, wayne, because i was looking at a survey of hr professionals and 91% say it is good for morale but is it good for business?
>> i don't think -- i think you have to divide it up. piece work can be profitable under certain circumstances. in other words, if you have a flexible schedule and you say to soberhouse, take, for example in the garment industry whether you say to the woman here, take this garment home and work ten it and bring it back and pay her on the basis of the work done not on the hourly basis. you have to distinguish that. i don't think you can put hourly people on a flexible schedule. that you cannot do. >> i was looking at a quote from the president of the national treasury employees' union. government worker. she was telling the washington post that really the government doesn't have a good record when it comes to flexible work situations. why do we need to listen to the government if we are in private business. let private business do what they need to do? >> the government doesn't have a good record when it comes to anything these days and the last thing we need the government doing is telling us how to run the businesses.
i'm all about nessible schedules if it works for the business. it is a busy business decision and they need to make it in their own little private corporate suites. the government does not need to be making the decisions. >> jonas, i go back to the issue of morale. at the end of the day we have a very productive work force in this country and this could be bad for the economy down the line. >> i want to do this from home on a web cam but because the government doesn't mandate it i couldn't do it. i don't understand how they could want -- a company wants to make you work harder. if they could figure out how to make you work two hours more they could do it. if anything the government subsidizes commuting to work with public transportation. most government work places schools included are the most old fashioned least modern
least product because of the way they run the employees. >> your point is right on and the the government knows, of course, because the president is an expert in everything. every day you turn the television or reopen the newspaper. one day banking and penn state education.the environmenand thn businesses are very good about promoting efficiency and productivity. telecommuting is up 75% in the last five years alone. businesses are very effective at using privately created technology i might mention to be very effective to the bottom line. >> he is making a good point that really a lot of businesses are already doing this so why should we put more money into a government program when you have deficits going crazy to promote flexible work when it is happening. >> businesses are doing it and they are finding it is successful. what is wrong with the federal government providing a boost so that more businesses take advantage.
>> the cost, christian, that is what is wrong and what that could do to the economy. we are already in debt. >> what is the cost? tell me something, if we can come up with a way to make american companies more productive, those costs are more than made up with higher productivity and economic growth. >> you have to see how this has failed miserably in the past. we spent all the stimulus money on the supposed shovel ready projects and we get a whopping 17,000 construction jobs out of it. those are very expensive construction jobs and it is not working. the money and the spending has got to stop. >> the point is -- look, why don't we spend a billion dollars on the feesability and the development of the wheel. that has already been done, too. people are already doing this. you have one out of six people, 17 to 18% of people in the country are unemployed or underemployed. we need jobs. we don't need more government
intrusion. we don't need to mess with the most productive labor force in the world. we need jobs. quit wasting our money. >> this is not a waste of money. it is a good way to give us the economy of the 21st century. i can't believe you all are against this. >> why doesn't the president focus on what he can control like streamlining the arbitrary and intrusive laws that make working from home a red flag when the irs comes along ready to audit. that is a major problem for small businesses and working corporations is that working at home is such an irs nightmare. >> wayne, with would you do this for your employees? would this work for you? >> we do do it sometimes. there are certain jobs that are specific jobs that can be done better at home. if you are not paying an hourly wage and you are paying somebody based on what they accomplish. i'm saying take this pen right here. i'm going take that home or i'm going make that thing and bring it back and i get paid on each number of the pens that i make
as opposed to being paid on an hourly basis that is a productive way to do it. i don't care where you do it if you do it that way. you cannot do that with hourly wages. >> and i bet it as great pen and i would definitely buy one. coming up, put down the twinkie and the chips, folks. listen up. junk food said to be just as addictive as hair wane. sounds bad but what -- as heroin. what if i told you fatty foods could actually lower healthcare costs? (announcer) we're in the energy business.
but we're also in the showing-kids- new-worlds business. and the startup-capital- for-barbers business. and the this-won't- hurt-a-bit business. because we don't just work here. we live here. these are our families. and our neighbors. and by changing lives we're in more than the energy business we're in the human energy business. chevron.
what to junk food and crack cocaine have in common? well, a new study says both are equally addictive and christian you say since eating fatty foods tack packs on the pounds and hikes up medical bills we should institute a junk food tax? >> as you are all fond of talking about on the show taxes discourage behavior and junk food links to diseases like diabetes which add to the healthcare cost. it is a smart way to discourage that behavior. it makes no sense that this bottle of water costs more than a can of coca-cola. i'm not saying this is going solve the health issues but it is part of a strategy to make sure that people have every opportunity to eat healthy food. >> but christian, can't you get fat on rice cakes? you wouldn't call that an
unhealthy glued it is a lot harder. >> that sounds painful. >> that is your determination and every individual's determination. every day we make decisions about what to put in your our bodies and we have to decide do i want the apple for the cheeno's. we you make healthcare a right you give government a vested interest and give them a right to tell you what to put in your body. >> it is almost lunch time and those cheeto's look good. even if the rats were threatened with electric shock they were still trying to eat, eat, eat, because they were addicted to the junk food the researchers were giving them. >> you put ice cream in front of me, i would eat it all day, too. as jonathan said you make smart decisions. either way this is moot. this is coming because everyone is broke. the federal government, our states they are looking to tax
anything and this is one of the least places they will get pushed back. so you will see tax on your cheeto's jonathan, i'm sorry to say. >> would it actually lower healthcare costs? we taxed the kingdom come smoking, people still smoke? >> smoking is down but you got to really tax the crap out of something. they really taxed cigarettes. it is not like a five cents or ten cents tax to a two liter bottle of soda and make america thin. it is not going to happen. you don't tax bullets, you make murder illegal. having junk food is not the problem. it is eating lots of junk food and i do think we need a fat tax and, not a junk food tax. the healthcare plan, government subsidized in some cases where there is no rewards for being healthy and they had an opportunity to do that. >> wayne, i have an idea. here is an idea, though. eat all the junk food you want, jonas is making a good point
here but at the same time if you do get overweight then you are taxed. it is a different way to tax the same type of behavior. >> i'm lost as to why you should be able to do any this of. this is not about health. this is about freedom. if i want to go out and eat dog do i should be able to eat it. you cannot legislate what people eat. this is not about health. and if the people want to be unhealthy they have a right to be. if i want to go out and get drunk i have a right to go out and get drunk. if i become a public nuisance there are laws about that but things have to do with freedom here. this is not about health. >> once the government gets the healthcare all of a sudden we do have a say because we are paying your increasing healthcare bills. wayne is right if you are on your own healthcare -- >> hold it. jonas, hold on. you are going to let the government do this in every instance? every time they says they will have a regulation about something and therefore they have a right to get into the
business. they will tell you how to sleep. you will have no personal responsibility any more. might as well take the country and throw it down the drain. >> collectively, though, we all are taking responsibility for healthcare because of the reform package that has gone through and all the taxes. but at the same time if this is just one creative way to at least curb the behavior, you are saying it curbed smoking, if it could curb obesity that brings healthcare costs. >> we are on the hook for people's healthcare. whether through private health insurance or medicare. it is in everyone's best interest to keep everyone cheap. >> but jonas -- >> and in fact, right now, junk food is way too cheap compared to healthy food. >> we subsidize that. >> i know you are not a big junk food guy, at least i believe that of you, please don't destroy that image of me in my mind. would you do something like this, a junk food tax to make a
difference? >> this mykonos difference whatsoever. this is not about health. i own a nutrition company. i understand the epidemic of diabetes, cancer and obesity. it has more to do with the deficiency of omega threes in the food supply than it does with junk food. this s bogus argument. they are trying to raise taxes and put themselves into american's lives. it has to do with potato chips and fat kids and not going to solve the health crisis. >> and jonathan got to eat cheeto's on the she this weekend. there is the answer. how do you stay so thin, that is my question because i know you very well. we will take a break and when we come back, whether a junk food tax or any tax, americans getting ready to protest them all on tax day and neil is on it. don't miss his live coverage of a tax daypro test planned on april 15th in atlanta.
i'm shannon bream from washington. coming up live at the top of the hour, after months of waiting today is the data apple begins selling its highly anticipated i-pad. is it worth the hype? we will go live to times square to the apple square where eager buyers have been lined up for hours. in the midst of holy week the catholic church is trying to distance pope benedict from controversial statements made by his personal preacher.
the priest compared the sex abuse scandal with more shameful aspects of antisemtism. the catholic church is on the defensive. threats reported against at least 13 governors across the country. the fbi warns this could lead to more violence. he will talk live to the utah governor about the threats he has gotten. more on these and your top stories coming up at the top of the hour on america's news headquarters. home prices still sliding despite the government shelling out $200,000 to stop it. key housing in connection price falling more than half a percent. you say that uncle sam is make things worse and stop with the programs and let the free market just take care of it. >> we have to. the programs are not working. let's boil it down. the government owns fannie and freddy and issues debt and buys the debt and pays itself interest on a debt it owes
itself. would you have 6.6 million homes in default right now. 25% of those have been not paid rent for over a year. the housings that have been modified, 169,000, a very small percentage. 40% of those have already redefaulted. until the government lets this system work it out, we will have foreclosures probably over 4 million homes this year until this works its way out we will never have a true recovery. >> wayne, you know, prices down, year-over-year, i mean there is talk of a double dip of a recession in housing in particular. the government has had its chance possibly here. >> the housing is leveling out. i don't see -- i don't see -- you are not going to have a double dip number one. number two, john is talking about currently if you go back in history and look at the history of fannie mae and freddy mack they have done a good job. >> all of this was for public housing and those were
successful programs. it is when our good congressmen got into the business of trying to make freddie mac and fannie mae buy all of the paper that we got into trouble this time. >> jonathan, it have they been that successful. >> they poured hundreds of millions down the drain. help for home owners and hope for ohm owners. housing prices still corrected. all the modified mortgages still redefundamentalled and people only like prices when they go up. housing needs to correct and all the government intervention prolongs the process. >> in or out? >> why should i may my mortgage if the government going bail me out. the government needs to back out and let it run its course. >> jonas? >> the only thing keeping homes from falling under 30% is the
government. a mortgage today would be at a 9% interest rate. i want to get the government out of home. they are too big. it has to be done ten years. do it overnight and youville a disaster on your hands. >> are you reading the same statistics i am? i find out all the home builder stocks are coming back because inventories are running down. >> because people can get mortgages because -- >> 6.6 million homes right now in shadow inventory. that has to come on. >> who has got and home loan in the last year? has anybody in the whole audience? >> christian, last word and thank you for being here, christian. >> thank you very much. look, we bailed out banks when they got in trouble because of the housing market. to call on the government to leave homeowners and ordinary americans when they have still not made home from losing trillions of dollars of wealth and their actual homes is
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it has the potential to rub out profit margins in all the mini monopolies that exist in the tech industry. i'm phasing back and going into the utility spider which is the antitech. >> tracy? >> doesn't work. new york city tried it. opportunity nyc. they are paying people to make good decisions and they didn't make them. the government needs to stay out of our lives and then we will make smart decisions. >> i'm with youthen one. wayne? >> discretionary spending is beginning to come back and the gaming stocks some did good. i like lvs las vegas sands and i like my friend steve wynn. >> jonathan? mcdonalds opening mcdonalds university in shanghai china. >> influence vest alongside the government. solar applied materials the way to play it. thanks to all of you. that is it for the cost of freedom, eve